Walmart Invests In Nationwide On-Demand Drone Delivery Provider DroneUp

Walmart Inc WMT has announced its investment in DroneUp, a nationwide drone services provider, to develop a scalable last-mile delivery solution.
The financial terms of the deal were not disclosed.
Walmart has already partnered with DroneUp to launch trial deliveries of at-home COVID-19 self-collection kits.
DroneUp operates an on-demand drone delivery network that matches their database of more than 10,000 Federal Aviation Administration (FAA) certified pilots to missions nationwide.
DroneUp operates commercially throughout the U.S. and is an authorized government drone services provider for 11 U.S. states serving public sector organizations.
Walmart’s 4,700 stores stocked with more than 100,000 of the most purchased items, located within 10 miles of 90% of the U.S. population, will help execute drone deliveries.
The first drone delivery operation will be at a store in Bentonville, Arkansas.
Walmart held cash and equivalents of $22.9 billion as of April 30, 2021.
Price action: WMT shares are trading higher by 0.46% at $137.78 on the last check Thursday.